CeriBell (NASDAQ:CBLL) Issues Earnings Results

CeriBell (NASDAQ:CBLL) posted its earnings results on Tuesday. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04), FiscalAI reports. The business had revenue of $29.34 million during the quarter, compared to analyst estimates of $29.16 million. CeriBell had a negative net margin of 64.73% and a negative return on equity of 44.85%.

CeriBell Trading Up 4.9%

Shares of CBLL traded up $1.31 during trading hours on Tuesday, hitting $28.27. 664,051 shares of the stock were exchanged, compared to its average volume of 366,242. The company has a debt-to-equity ratio of 0.16, a current ratio of 9.18 and a quick ratio of 8.79. The firm has a market capitalization of $1.09 billion, a P/E ratio of -16.06 and a beta of 0.94. The business has a 50-day moving average of $24.98 and a 200-day moving average of $20.82. CeriBell has a fifty-two week low of $10.85 and a fifty-two week high of $28.89.

Insiders Place Their Bets

In other CeriBell news, VP David Foehr sold 9,255 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $24.25, for a total value of $224,433.75. Following the transaction, the vice president owned 34,144 shares of the company’s stock, valued at approximately $827,992. The trade was a 21.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott Blumberg sold 1,521 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $24.02, for a total transaction of $36,534.42. Following the completion of the transaction, the chief financial officer owned 146,600 shares in the company, valued at approximately $3,521,332. The trade was a 1.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 174,905 shares of company stock valued at $4,312,995 in the last 90 days. Company insiders own 17.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CBLL. BTIG Research reiterated a “buy” rating and issued a $30.00 target price on shares of CeriBell in a research note on Friday, September 11th. TD Cowen boosted their price target on CeriBell from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Raymond James Financial reissued a “strong-buy” rating and set a $29.00 price target on shares of CeriBell in a research report on Thursday, September 3rd. Barclays upgraded CeriBell to a “neutral” rating in a research note on Tuesday, August 18th. Finally, Weiss Ratings raised CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

About CeriBell

CeriBell, Inc is a medical technology company that develops artificial intelligence-enabled neurological diagnostic products. Its technology is designed to help healthcare professionals rapidly identify and monitor seizures, including nonconvulsive seizures that may be difficult to recognize through a standard clinical examination.

The company’s primary product is the Ceribell Rapid Response EEG system, a portable electroencephalography platform that combines a wireless EEG recorder, a simplified disposable headband, and software-based analysis tools.